The global cast stretch films market is anticipated to reach a valuation of US$ 2.6 billion in 2023, driven by rising demand for efficient packaging solutions. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 4.7% between 2023 and 2033, and reaching a total valuation of approximately US$ 4.1 billion by 2033.
One of the major factors contributing to the growth of the cast stretch films market is the growth of eCommerce. The explosive growth of e-commerce has transformed the retail landscape, placing heightened emphasis on reliable and secure packaging for goods shipped directly to consumers. Cast stretch films offer a protective barrier that keeps products intact and prevents pilferage, making them an essential component of e-commerce packaging.
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Cast stretch films contribute to supply chain optimization by enhancing the stability of palletized loads, which leads to fewer instances of product damage, minimizing waste, and reducing the need for costly returns or replacements. Businesses recognize the cost savings and operational efficiencies gained through improved supply chain management.
Industries are shifting towards more sustainable packaging solutions, with increasing environmental concerns. Cast stretch films made from recyclable materials, biodegradable polymers, or those with reduced material usage align with sustainability goals and appeal to environmentally conscious consumers.
Key Takeaways from the Market Study
- Global cast stretch films market was valued at US$ 2.5 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 2.1%.
- North America is expected to hold a dominant CAGR of 4.6% during the forecast period.
- By material type, linear-low density polyethylene (LLDPE) segment is expected to constitute a CAGR of 4.6% in 2033.
- On the basis of end use industry, the food & beverages segment is expected to dominate the market with a CAGR of 4.6% in 2033.
- From 2023 to 2033, cast stretch films market is expected to flourish at a CAGR of 4.7%.
- By 2033, the market value of cast stretch films is expected to reach US$ 4.1 billion.
Advancements in material science, across the globe, is a major factor that is expected to propel the growth of the cast stretch films market in the near future, remarks an FMI analyst.
Competitive Landscape
Prominent players in the cast stretch films market are Sigma Plastics Group, Inc., BP Plastics Holding Bhd, Clondalkin Group Holdings BV, Borealis AG, Bischof + Klein, Winpak Ltd., Berry Global Inc., Jindal Poly Films Limited, SML Maschinengesellschaft mbH, and Amcor Plc., among others.
Recent Developments:
- In 2023, Berry Global acquired Clondalkin Group Holdings BV, a leading manufacturer of cast stretch films.
- In 2022, BP Plastics Holding Bhd. launched its new line of high-barrier cast stretch films.
- In 2022, Jindal Poly Films Limited expanded its production capacity for cast stretch films in India.
- In 2021, Clondalkin Group Holdings BV acquired the assets of AEP Industries, a leading manufacturer of cast stretch films in North America.
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Key Segments Profiled In The Global Cast Stretch Films Market
Material Type:
- Polyethylene (PE)
- Linear Low-Density Polyethylene (LLDPE)
- Low-Density Polyethylene (LDPE)
- Polypropylene (PP)
- Polyamide (PA)
- Others
Thickness:
- Up to 30 micron
- 31 micron – 50 micron
- 51 micron – 70 micron
- Above 70 micron
Layer Type:
- Single Layer
- Multi – Layer
End Use Industry:
- Food & Beverages
- Pharmaceuticals
- Personal Care & Cosmetics
- Electrical & Electronics
- Home Care
- Chemicals
- Other
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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